Contents

• Abstract 3
• Introduction 3
• What are Natural Disasters? 3
• Effect of Natural Disasters on the Economy 4
• Various Natural Disasters and their impact on Economy 4
• Assessment of Economic Impacts 6
• Mitigation of loss to economy through natural disaster 7
• Conclusion 9
• References 10

Description

This research paper of Micro-Economics on the economic impact of natural disasters will discuss the various disasters, their impact on the economy and the mitigation of economic loss from such adverse events. Firstly, a brief definition of natural disasters will be provided in this paper which is a fundamental reason for the below research. Thereafter, a discussion will be done on the various disasters and their height of impacts on the economy. This will also include various data regarding the estimation of economic loss and their insurance cover. Comparison between the various data will also be seen in this research paper. Rising or falling in the prices due to these natural disasters can be clearly seen in this paper. The precautions and measures which has to be adopted by the government to mitigate the economic loss occurred due to such hazardous events are also the part of this Micro-Economics research.